Pakistan Reaffirms Commitment to Strengthen Economic Ties with Japan

ISLAMABAD, Jan 16 (Alliance News): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has reiterated Pakistan’s dedication to fostering trust and credibility with its development partners, including Japan.

He made the remarks during a meeting with Japanese Ambassador to Pakistan, Akamatsu Shuichi, who called on him Thursday, according to a press release by the Finance Ministry.

Welcoming the ambassador to his new role, Aurangzeb lauded Japan’s longstanding partnership with Pakistan and highlighted the economic, diplomatic, and technical support extended by Japan.

He urged Japanese investors to explore opportunities in Pakistan’s manufacturing and production sectors to boost the country’s export potential.

The minister emphasized the government’s progress in achieving macroeconomic stability through reforms and structural adjustments in areas such as fiscal policies, taxation, Special Economic Zones (SEZs), energy management, and privatization.

He also highlighted the importance of addressing critical issues such as population growth and climate change, in alignment with the 10-year Country Partnership Framework signed with the World Bank.

Acknowledging Japan’s significant contributions to Pakistan’s economic growth, Aurangzeb assured continued engagement with Japanese investors to incorporate their feedback into Pakistan’s federal budget policy framework.

Ambassador Akamatsu expressed satisfaction with Pakistan’s progress in macroeconomic reforms and highlighted Japan’s substantial investment in the country.

He noted that 80 Japanese companies operate in Pakistan, employing over 65,000 workers and contributing significantly to the economy.

The meeting underscored a mutual commitment to strengthening bilateral relations and exploring new avenues for economic collaboration.